The buzz that goes around property sourcing is that it’s a fun and quick way into making big money; a way of property shopping when you're not actually paying the bills.
But, there's always a ‘but’. In this case it’s that there are a lot of rules and regulations about it. That’s why I invited Tina Walsh, known as the Queen of Compliance, onto the show. Tina has been operating in the property investment sector since 2006, and since 2012, she operates a part-time sourcing business. She also has a training company and has set up the National Association for Professional Sourcing Agents.
As someone who has a finger on the pulse of all things legal when it comes to property sourcing, what Tina talks about is probably going to horrify some listeners. Others will just see it as an easy system of rules and regs within which they can work. Either way, you’re going to learn a lot in this conversation!
What is Covered:
-Common misconceptions about property sourcing
-The definition of a professional property sourcer
-The importance of compliance and the consequences of non-compliance
-What you need to know to be a professional property sourcer
-Why you need to educate investors on legal requirements of sourcing
-Understanding buyer due diligence
-How to avoid the risks of money laundering in property
-Available complaints procedures and redress schemes in property
-Upfront and refundable property sourcing fees
-How to get insurance as a property sourcer
-Compliance renewal in property sourcing
Resources:
-Connect with Tina Walsh at https://napsa.org.uk/
-Download my Property Business Checklist - The key building blocks for a sound and successful business
-Book a 30-minute discovery call with me - the first step to finding the right way to help you succeed in property
-Check out my Website
-Let's connect! Send me a VoiceMail
-Connect with me on LinkedIn
-Find me on Instagram
-The Property Ombudsman https://www.tpos.co.uk/
-Property Redress Scheme https://www.theprs.co.uk/
-Insurance-Desk Services https://www.insurance-desk.com/
-Blue Bricks Magazine https://bluebricksmagazine.com/
-Young Professionals Network https://ypn.realtor/
Mentioned in this episode:
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